Washington DC Solar Incentives Help You Go Solar
The nation’s capital is gearing up for a brighter future with its climate and energy plan, Clean Energy DC.1 It plans to cut greenhouse gas emissions in half by 2032, so you can be sure that they’re taking solar seriously. DC already has a few incentives in place to help households go solar.
Want to see savings fast? Washington DC solar company Sunrun can help you save. Read on to learn how.
Washington DC Solar Incentives, Rebates, & Tax Credits
|Solar Savings Types
||Value of Savings
|Federal Solar Tax Credit (ITC)
||30% of the total system cost
|Washington DC Solar Renewable Energy Credit (SREC)
||Varies depending on market value
||Variable (Net Metering)
**Customer’s ability to monetize rebates, incentives and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a solar system from Sunrun.
Pepco customers that go solar can take advantage of its net metering program2—it’s also one of our favorite ways to save with the sun.
It’s pretty simple: if your solar system produces more energy than you need, your utility will buy that surplus energy from you and pay you in the form of energy credits. That way, you can put those credits towards your electricity bill for times when you’ve needed to use energy from the grid. You can expect this to happen at nighttime or on particularly cloudy days. Basically, you can “save” your solar energy for when you need it most.
This example Pepco bill offers a comprehensive guide to net metering. To read more on net metering, click here.
Solar renewable energy credits or SRECs
Solar renewable energy credits, or SRECs, are another way that DC helps homeowners save on solar.3 D.C. sets a Renewable Portfolio Standard, or RPS, that requires companies that provide electricity, like your local utility, to get a portion of its energy from renewable sources like solar power. To meet the RPS, electric companies can buy solar credits from home solar systems. Home solar system owners can sell SRECs to an aggregator like SRECTrade, bundling up their SRECs and selling them to the utility.
Federal Solar Tax Credit
On top of DC’s solar renewable energy credits, you’d also be eligible for the 30% Federal Investment Tax Credit, or ITC, if you buy your own solar system outright.* The tax credit amounts to 30% of the cost of purchasing your solar system, but only after deducting the value of your state rebates. However, ITC credits will begin stepping down from 30% at the end of 2019. The tax credit for systems in service after 12/31/19 will drop to 26%. After 12/31/20, it’ll drop even further to 22%, and by 2022 the residential credit will drop to zero.4
Solar in D.C. Made Simple
While both SRECs and the ITC are great reasons to go solar, they can get complicated fast. Not only that, but the upfront cost of a home solar system can leave a pretty big dent in your wallet. So why not keep things simple and still save big? That’s where Sunrun steps in.
Thanks to BrightSave™ Monthly and Prepaid, you pay for the power, not the panels. For as little as $0 down, you’ll get a Washington DC solar installation while we pass on all the above DC incentives down to you in the form of a low, predictable energy bill. BrightSave also comes with free monitoring, maintenance, and repairs for your solar system for the next 25 years. All you have to do is sit back and soak up the savings. Plus, you’ll still be able to get credits for net metering, which could lower your electricity bill even more.
Looking for a solar company near you? See how much you could save with Sunrun and get your free quote today.